24 creditors move NCLT against Anil Ambani- led RCom

Mumbai: Creditors of Reliance Communications and Telecom have moved the National Company Law Tribunal (NCLT) in Mumbai against the Ambani-led Reliance group to recover their dues said Tribunal records.

As many as 24 creditors have moved various benches of the NCLT under section 9 of the Insolvency and Bankruptcy Code (IBC). Of these 11 firms have so far settled or are in the process of settling the dispute with Ambani’s firms through NCLT while remaining 13 firms are yet to resolve their disputes.

One 97Communications, logistics firm GATI Ltd, Ascend Telecom Infrastructure Pvt.Ltd, Bangalore International Airport Ltd, Handygo Technologies Pvt Ltd, communications firm Laqshya Media Ltd, Wallop Advertising Pvt. Ltd, Evolve Digital Solutions Pvt Ltd, Enhance Software Solution Pvt Ltd, Syscom Corporation Ltd, Xportsoft Technologies, Navya Industries Pvt Ltd and Abhitech Energycon Ltd are among the creditors that have moved NCLT.

The bench headed by Justice Rohinton Nariman, earlier this week, directed Ambani-led RCom to clear its pending dues worth Rs 550 crore to Swedish telecom Ericsson India on or before 15 December.

The apex court also told Ericsson that it can take legal action against RCom if it fails to make payments by 15 December, Indian Express reports.

Anil Ambani has formally announced RCom’s exit from telecom business to concentrate on real estate business in future.